Yep! Entrepreneur Bootcamp | Funding and scaling tips

I don't believe in getting funding very early on, I believe growing it organically getting it to a point where the business can actually sustain
any sort of debt instrument.

It really is interesting how we're taught that you can fund a business with debt, and you can fund a business with equity REITs, or investors contributing equity as well. But the one other non romantic one that hasn't, you know, made it on the front cover of a magazine is customer funding, the fact that you can actually fund your business with customers that you grow at holding a track record, letting that you know, be your source of funding in the beginning. And then when you are experiencing a shift, you then move into possible external debt or equity. Investments

Business in itself is inherently uncertain. So making sure that that you've got the right team and you've got the right people that deal with those obstacles and uncertainties and don't just back down, I think that's a very relevant.

One of the things as a startup listening or the business in the middle of a decision go, no, go. Just ask yourself a question Are your systems, your processes aligned for that probe.

Do things manually in the beginning, so that you understand what the actual process is end to end, and then start to not necessarily automate everything to enable you to scale but automate 50% automate 20% Because every little subsection of a process that you automate, is going to allow you to do more with the same amount of effort if you're going to go out there and look for equity or look for funding, you need to make sure that you find basic financial management is actually designed effectively.

You need to make sure that actually you're running the business in a way that you would have an external auditor look in and say that the businesses sound. So position yourself for success in the in the processes that you've put in place. And if it's a product that you bought, position yourself in a way that actually from a from a delivery point of view, you know it to access those customers by your customer, cash flow is king. So as we start businesses, you are sometimes worried too much about accessing the fund and making payments and you are not pushing to collect what is owed to us the cash is king. Don't forget your creditors,

Private equity is very much more about partnerships and being involved in the business with with yourselves. So I think you know, running your own business can be quite a lonely existence. And involving a private equity partner, be good if you could select someone can really add value to your business. And it's important to test that so if you've got a retail type entity, does this investor understand space that you're in cannot open doors for you can they add value? Because the private equity investor also needs to sleep, eat, drink the business with you? That passion, That's really what I look for is that passion.

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